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26 Feb 2015
USD/CAD keeps the range on US, CAD data
FXStreet (Edinburgh) - The greenback remains firm vs. its neighbour on Thursday, with USD/CAD hovering over the upper end of the range around 1.2470/80.
USD/CAD bounces off 1.2430
The pair’s upside has been briefly interrupted following the slew of data in both US and Canadian dockets, albeit recovering later: headline consumer prices in the US economy contracted as expected 0.1% on a year to January and 0.7% inter-month; core prices gained 0.2% MoM and 1.6% over the last twelve months. Still in US, Durable Goods Orders improved 2.8% in January, leaving behind the 3.7% contraction from the previous month; excluding the Transportation sector, Orders expanded 0.3% vs. 0.5% estimated. Initial Claims ticked higher to 313K in the week ended on February 20th, up from 282K previous.
In Canada, consumer prices surprised markets to the upside, rising 1.0% YoY and dropping 0.2% inter-month; Core prices gauged by the BoC advanced 0.2% on a monthly basis and 2.2% YoY.
USD/CAD levels to consider
The pair is now up 0.45% at 1.2481 with the next barrier at 1.2498 (high Feb.27) ahead of 1.2511 (Tenkan Sen) and finally 1.2600 (psychological level). On the downside, a breach of 1.2360 (low Feb.17) would aim for 1.2353 (low Feb.3) and finally 1.2286 (23.6% of 1.0620-1.2800).
USD/CAD bounces off 1.2430
The pair’s upside has been briefly interrupted following the slew of data in both US and Canadian dockets, albeit recovering later: headline consumer prices in the US economy contracted as expected 0.1% on a year to January and 0.7% inter-month; core prices gained 0.2% MoM and 1.6% over the last twelve months. Still in US, Durable Goods Orders improved 2.8% in January, leaving behind the 3.7% contraction from the previous month; excluding the Transportation sector, Orders expanded 0.3% vs. 0.5% estimated. Initial Claims ticked higher to 313K in the week ended on February 20th, up from 282K previous.
In Canada, consumer prices surprised markets to the upside, rising 1.0% YoY and dropping 0.2% inter-month; Core prices gauged by the BoC advanced 0.2% on a monthly basis and 2.2% YoY.
USD/CAD levels to consider
The pair is now up 0.45% at 1.2481 with the next barrier at 1.2498 (high Feb.27) ahead of 1.2511 (Tenkan Sen) and finally 1.2600 (psychological level). On the downside, a breach of 1.2360 (low Feb.17) would aim for 1.2353 (low Feb.3) and finally 1.2286 (23.6% of 1.0620-1.2800).